Before Buying Castor Maritime Inc. (NASDAQ:CTRM) Stock, Read This First

Castor Maritime Inc. (NASDAQ:CTRM) shares, dropped in value on Thursday, Apr 08, with the stock price down by -2.59% to the previous day’s close as weak demand from buyers trailed the stock to $0.49.

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Actively observing the price movement in the recent trading, the stock is buoying the session at $0.51, falling within a range of $0.4556 and $0.5400. The value of beta (5-year monthly) is 0 whereas the PE ratio is 0 over 12-month period. Referring to stock’s 52-week performance, its high was $1.95, and the low was $0.11. On the whole, CTRM has fluctuated by -40.61% over the past month.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that CTRM’s technical picture suggests that short-term indicators denote the stock is a Hold on average. However, medium term indicators have put the stock in the category of 50% Buy while long term indicators on average have been pointing out that it is a 50% Buy.

A comparison of Castor Maritime Inc. (CTRM) with its peers suggests the former has fared considerably weaker in the market. CTRM showed an intraday change of -2.59% in today’s session so far, and over the past year, it dropped by -18.48%. In comparison, Kirby Corp (KEX) has moved lower at -0.15% today and is up +35.98% over the past 12 months. On the other hand, the price of Euronav NV (EURN) has fallen -1.31% today. The stock, however, is off -7.37% from where it was a year ago. Additionally, there is a decline of -259% for Frontline Ltd (FRO) in recent trading while the stock has seen an overall depriciation of -18.48% over the past year. The PE ratio stands at 0 for Castor Maritime Inc., compared to 0 for Kirby Corp, and 4.08 for Euronav NV. Other than that, the overall performance of the S&P 500 during the today’s session so far shows that it gained 0.29%. Meanwhile, the Dow Jones Industrial weakened by -0.03%.

Data on historical trading for Castor Maritime Inc. (NASDAQ:CTRM) indicates that the trading volumes over the past 10 days have averaged 36.94 Million and over the past 3 months, they’ve averaged 188.47 Million. According to company’s latest data on outstanding shares, there are 707.25 Million shares outstanding.

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Nearly 1.59% of Castor Maritime Inc.’s shares belong to company insiders and institutional investors own 3.86% of the company’s shares, according to Thomson Reuters’ data. The data on short interest also indicates that stock shorts accounted for 8.35 Million shares as on March 14, 2021, resulting in a short ratio of 0.08. According to the data, the short interest in Castor Maritime Inc. (CTRM) stood at 1.64% of shares outstanding as of March 14, 2021; the number of short shares registered in February reached 31.02 Million. The stock has risen by +173.19% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the CTRM stock heading into the next quarter.

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